Get exclusive money‑saving offers and guides

Are You ‘High Risk’? Find A High Risk Life Insurance Brand

What is high-risk life insurance?

High-risk life insurance refers to life insurance designed for people with a higher than normal risk of injury or death. A high-risk policy takes into account lifestyle, occupation, medical conditions and medical history. An insurer has the right to look into these details and determine whether the person is high-risk.

Some insurers do not offer plans for high-risk customers while others will offer specific plans for such people. Regardless of this, if a person is determined to be high-risk, insurance premiums will increase.

Receive quotes for life insurance

Full Name*Please enter your full name

Email*Please enter a valid email address

Phone*

It's important to give us a valid phone number

State*

Gender

MaleFemale

Smoker

NoYes

Date of Birth

Type of ProtectionLife InsuranceIncome Protection

Current IncomeThis is your current income. Everyones situation is different so you might also want to discuss with an insurance consultant.Calculator

Occupation*Please enter your occupation

Self EmployedNoYes

Level of ProtectionCoverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount.Calculator

TPD CoverProvides a lump sum payment if you become totally and permanently disabled and are unable to return to work.

Trauma CoverProvides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.

Sign up to our money newsletter

By submitting this form, you agree to the finder.com.au privacy policy

Get quotes

Edit your details

Did you submit incorrect details? Not to worry, you can edit them below.

By submitting this form, you agree to the finder.com.au privacy policy

Who needs high-risk life insurance?

High-risk life insurance is targeted at people with a higher than average likelihood of making a claim because of medical, job or lifestyle factors. When buying insurance, an insurance expert will evaluate these factors to find out if you are high-risk. Here are some situations where you'd consider high risk life insurance:

Serious medical conditions or a history of medical conditions. Illnesses such as cancer, diabetes or hypertension can qualify, as can obesity.

High-risk occupations. Working in jobs like commercial fishing, mining or heavy industry.

A history of alcohol or drug abuse. Smoking, drinking and drug use can place you as a higher risk applicant.

Frequently engaging in dangerous lifestyle activities. This can include boxing, contact sports, racing or extreme sports.

Will I have to pay more for high-risk life insurance?

With the exception of a few cases, high-risk insurance will cost more than standard insurance.

The insurer has to take into account that you have a higher than normal chance of making a claim, and as a result, the premiums will be higher. How much so can depend on a number of factors and will be determined by experts who manage risk.

If you are high-risk because of a medical condition you may have to go through an examination. Age, weight, smoking status, occupation and lifestyle can all play roles in determining the price of a high-risk policy.

Will all brands offer high-risk insurance?

Not all brands offer high-risk insurance. Some brands will decline standard insurance if they determine that a person is high-risk, whereas other companies will increase the premiums to account for the higher risk. There are some brands that specifically target high-risk individuals and offer guaranteed coverage.

How do I qualify for standard life insurance in order to spend less?

It is possible to qualify for standard life insurance at a future date, thus decreasing your life insurance premiums.

The easiest way to do this is by addressing the problems that make a you high risk. For example, if you are high-risk because of smoking it will help if you quit, or if you are high-risk because of a weight problem it can be beneficial to trim down. Find out why you are high-risk and work on ways to improve your situation – it can affect your health and your wallet in the long term!

Questions to Ask When Applying for High Risk Life Insurance

When you are applying for any life insurance product, there are certain questions you should ask.

1. What does it cover?

This is the easiest, but also, most complicated question to have answered. While your insurance provider or adviser will likely give you a high level explanation of what your policy will cover you for, it is best to go deeper than that. Really do your research. Go online and check out reviews of the policy and compare them with others online. More importantly, read your policy document thoroughly. Pay close attention to the cover benefits and exclusions sections.

2. Why does the insurer think I’m high risk?

This is a great question to ask. Not all insurers will have the same definition for a risky candidate. Shop around. You may be able to get a better deal from another provider. Additionally, knowing why you are high risk will help you make some self evaluations. If you are high risk because of a lifestyle choice or because of your general health, there are steps you can take to reduce or minimise the levels of risk you are exposing yourself to. If your situation does change, and you believe that you are no longer a high risk, talk to your insurer and have them change your policy. This could save you a lot of money in the long run..

3. Who is the insurance underwriter?

If you are taking out a policy through a adviser, ask them who is underwriting the policy. It is important to know from the outset whether you are dealing with a reputable insurer. If you don’t not know the provider, do some research and find out what they are like.

How long have they been in business?

How likely are they to payout on a claim?

Are they in danger of going bankrupt?

Having a definitive answer for questions like these will ensure that you have peace of mind knowing that your family future is in the secure hands of a reputable insurer.

4. Is my high risk activity even covered?

Even if you have found a high risk life insurance company, it doesn’t mean they will automatically give you cover. Make sure that they cover the risks specific to you.

Will is a personal finance writer for finder.com.au specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

Ask an Expert

Do not enter personal information (eg. surname, phone number, bank
details) as your question will be made public

finder.com.au is a financial comparison and information service, not a bank or
product provider

We cannot provide you with personal advice or recommendations

Your answer might already be waiting – check previous questions
below to see if yours has already been asked

Your Question

Subscribe to the Finder newsletter for the latest money tips and tricks

Notify me via email when there is a reply

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

Disclaimer -
Hive Empire Pty Ltd (trading as finder.com.au, ABN: 18 118 785 121) provides factual information, general advice and services on financial products as a Corporate Authorised Representative (432664) of Advice Evolution Pty Ltd AFSL 342880. Please refer to our FSG - Financial Products. We also provide general advice on credit products under our own Credit Licence ACL 385509. Please refer to our Credit Guide for more information. We can also provide you with general advice and factual information on about a range of other products, services and providers. We are also a Corporate Authorised Representative of Countrywide Tolstrup Financial Services Group Pty Ltd. ABN 51 586 953 292 AFSL 244436 for the provision of general insurance products. Please refer to our FSG - General Insurance. We hope that the information and general advice we can provide will help you make a more informed decision. We are not owned by any Bank or Insurer and we are not a product issuer or a credit provider. Although we cover a wide range of products, providers and services we don't cover every product, provider or service available in the market so there may be other options available to you. We also don't recommend specific products, services or providers. If you decide to apply for a product or service through our website you will be dealing directly with the provider of that product or service and not with us.
We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide. If you are unsure you should get independent advice before you apply for any product or commit to any plan. (c) 2017.

Important information about this website

finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of major banks, insurers and product issuers.

finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product. You should consider whether the products featured on our site are appropriate for your needs and seek independent advice if you have any questions.

The identification of a group of products, as 'Top' or 'Best' is a reflection of user preferences based on current website data. On a regular basis, analytics drive the creation of a list of popular products. Where these products are grouped, they appear in no particular order.

Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment.

We try to take an open and transparent approach and provide a broad based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.

Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.

Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.

Please read our website terms of use for more information about our services and our approach to privacy.